RAMSEY CROOKALL & CO 17th August 2012

Morning Report

The FTSE 100 is trading up 0.15%. UK banks are amongst the biggest gainers, helped by improved sentiment in Europe. Mid-cap stock Lonmin slumps 3% following news that over 30 miners have been killed at the company's Marikana mine after clashes with police.

Barclays, Royal Bank of Scotland and Lloyds were in demand early on as banking stocks across Europe made gains on improving developments in the Eurozone.

Dutch brewer Heineken is in talks with Singapore conglomerate Fraser & Neave about an increased offer for Asia Pacific Breweries, two people familiar with the situation say.

Water group Pennon was sinking after saying that trading at its waste management unit Viridor has been significantly below the high level of the first half of the previous fiscal year with recyclate prices remaining under pressure.

Casino and online gaming group Rank advanced after saying that revenues in the 12 months to June 30th rose 3.4%, while pre-tax profits jumped 9.0%.

Premier Oil fell after reporting that it has plugged and abandoned the Chim Sao North West appraisal well in Vietnam after failing to find indications of hydrocarbons.

THE FTSE 100             @ 10:00      Up          8        @      5,843 THE DOW JONES            closed       Up          85       @     13250 THE NASDAQ               closed       Up          31       @      3062 Exchange Rates GBP – USD        @      10:00                1.5710 GBP - EURO      @      10:00                1.2796